The bank was registered under MSC Act – 1960, on 16/02/1998 with Registration No- JGA-Bank/0(108)98. Bank has received banking licence from RBI on 13/08/1998 - Licence No- UBD/MAHARASHTRA 1619 P, and started banking business from 14th Feb 1999 which was the great Hindu religious day “Mahashivratri”, and accompanied by “Valentine Day”. First branch at Dana Bazar was inaugurated by Mr. D. R. Mehta.
Initially there were 1754 members with share capital of Rs. 18.30 Lac, and deposit of Rs. 104.25 Lac.
Within a short period, bank has adopted all the modern technical facilities like “Core Banking Solution”, “RTGS”, “NEFT”, “ATM”, and “SMS Banking”. From the beginning bank has awarded “A” audit class.
Besides economical and financial activities, bank has also played important role in social, rural and village development by providing financial assistance to economically weaker, socially illiterate peoples and persons coming under priority sectors like self help group, landless labours, small industrial units, and women to earn at home.
Board of Director consists of well qualified professionals like Social worker, Doctor, Charted Accountant, Professor, Literary person, Farmer, Industrialist, self employed person, banking and legal expert.
OUR FINANCIAL DETAILS ::
| Figure Rs. In Lac | ||||
| No | Particulars | 31/03/2020 | 31/03/2021 | 31/03/2022 |
| 1 | No.of Shareholders | 10944 | 10925 | 10972 |
| 2 | Paid Share Capital | 666.16 | 674.26 | 668.45 |
| 3 | Reserve | 2010.36 | 2322.11 | 2422.80 |
| 4 | Working Capital | 17597.98 | 20196.35 | 20813.08 |
| 5 | Total Deposits | 14349.18 | 16642.10 | 17270.98 |
| 6 | Total Advance | 10951.87 | 10608.82 | 10369.22 |
| 7 | Investments | 4272.78 | 7429.62 | 8461.32 |
| 8 | Profit Before Tax | 432.95 | 314.93 | 314.19 |
| 9 | Profit After Tax | 274.82 | 234.03 | 234.11 |
| 10 | Gross N.P.A % | 4.26 | 4.00 | 2.92 |
| 11 | Net N.P.A % | 0.00 | 0.00 | 0.00 |
| 12 | CRAR % | 25.41 | 24.80 | 29.47 |
| 13 | No. Of Employee | 70 | 70 | 70 |
| 14 | No. Of Branches | 7 | 7 | 7 |
| 15 | Audit Class | A | A | A |
